WASHINGTON (dpa-AFX) - Gold prices rose over 1 percent on Friday and remained on track to post a second straight weekly gain after the Trump administration indicated on Thursday night that it was open to a broader coronavirus stimulus package - one that includes support for airlines, state and local government aid, and jobless benefits.
Spot gold climbed 1.1 percent to $1,915.34 per ounce, while U.S. gold futures were up 1.3 percent at $1,920.45.
Equities rose and the dollar index fell against its rivals as lawmakers kept hopes of stimulus alive and a private survey showed services sector activity in China expanded in September.
U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin resumed their talks over the coronavirus aid plan, after Trump abruptly called off negotiations earlier this week.
The Caixin composite services Purchasing Managers' Index for China rose to 54.8 in September from 54.0 in August, marking the fifth consecutive increase in service sector output. The expansion was underpinned by a sustained rise in total new business.
Investors are also preparing for Biden's victory in presidential election and expect that he will offer bigger stimulus package after the election.
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